One embodiment of the present invention provides a system that dynamically compiles byte codes into native code to facilitate faster execution. This method operates in a mixed-mode system that supports execution of both compiled code and interpreter code. During operation, the system periodically determines if a currently executing thread is executing through the interpreter. If so, the system locates the method being executed by the thread and compiles the byte codes of the method into native code. Subsequent executions of the method utilize the faster-executing native code.